15 employees at the Bureau of Public Debt office account for every penny of the national debt in the United States.
The Bureau of Public Debt borrows the money needed to operate the federal government and to account for the resulting debt. They accomplish this task by selling Treasury bills, notes and bonds, including U.S. Savings Bonds.
Everytime the agency borrows or pays back money, it affects the outstanding debt of the United States.
An interactive chart demonstrating debt subject to limits can be found at Treasury Direct.
Click here for additional background information regarding the Debt of the United States
Okay, but what if the Federal Government saved money by switching to Geico?
ReplyDeleteI'm pretty sure the U.S. Government is "self-insured."
ReplyDelete:)
Of course they are, but they could be saving more money by switching to... um...
ReplyDeleteOkay, I'll stop now.